Home Credit, PPF’s consumer finance division, yesterday announced the signing of a framework agreement for the sale of its assets in Vietnam worth approximately EUR 800 million (about Kc 20 billion), announced PPF group.
The buyer is Siam Commercial Bank Public Company Limited (SCB), which is part of the Thai group SCBX Public Company Limited.
The transaction is subject to the approval of the relevant regulators in Vietnam and Thailand. Its settlement is scheduled for the first half of 2025.
Home Credit Vietnam was established in 2009 as PPF’s first consumer finance company in Southeast Asia. Within 15 years, it has become a leading provider of digital financial services. The number of Home Credit’s clients in Vietnam has exceeded 15 million across the country. The company’s current market share is around 14 percent. Home Credit Vietnam employs 6,000 people.
In addition to Russia, PPF has also exited the markets in Indonesia and the Philippines in recent years. Apart from the Czech Republic and Slovakia, Home Credit now operates as a non-bank provider of consumer finance services in China and India, and the Home Credit Bank is a retail bank in Kazakhstan. Outside Europe, PPF is also involved in the pleasure craft manufacturing and rental segment.
Set up in the Czech Republic, Home Credit is an international consumer finance provider operating in the markets in Europe and Asia. So far, it has provided services for 140 million clients and its mobile app has more than 100 million registered users.
The investment group PPF operates in 25 countries in Europe, Asia and North America. It invests in financial services, telecommunications, media, biotechnology, real estate and engineering, owns assets worth EUR 43.5 billion (about Kc 1,100 billion) and employs 52,000 people worldwide.
Source PPF and CTK
